Over 9,000 flats sold in Mumbai till July, Rs 566 cr generated through stamp duty

Over 9,000 flats sold in Mumbai till July, Rs 566 cr generated through stamp duty

Currently, in the state, 5% stamp duty is charged on property. However, women buyers are charged 4% stamp duty on property purchases

Staff ReporterUpdated: Sunday, August 01, 2021, 03:13 AM IST
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Mumbai: In Mumbai, over 9,823 conveyance deeds have been registered by the end of July. These are the figures given by the Department of Registration & Stamps, Government of Maharashtra. With this, the state has generated revenue of Rs 566.80 crore through stamp duty.

Similarly, across the state, a total of 13,6337 properties were sold, generating a revenue of Rs 1,835.08 crore.

Currently, in the state, 5% stamp duty is charged on property. However, women buyers are charged 4% stamp duty on property purchases. The state government had given concessions in stamp duty by 3% to 2% till March. Due to this, there was a sharp rise in property buying, especially during the first wave. Interestingly, after March the realty market witnessed a slowdown. However, from June, sales picked up.

Meanwhile, leading developers continue to insist that the government provide concessions in stamp duty in order to encourage home buyers.

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